Dot Plot Was More Dovish Than Expected: BNY Economist
Vincent Reinhart, BNY Investments, Chief Economist speaks with Alix Steel and Romaine Bostick about Fed Day and inflation forecasts. (Source: Bloomberg)
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Trump's New EU Trade Deal Labeled 'Bad News' By Economists As Dow Futures Spike Over 150 Points
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. President Donald Trump's latest trade deal with the European Union is drawing sharp criticism from several leading economists, who argue that it will disproportionately harm American consumers and businesses. What Happened: Following Trump's announcement on Sunday, economist Peter Schiff posted on X, with a blunt assessment of the deal, saying that 'Americans lose again.' Schiff says that under the new terms, 'we will pay 15% tariffs to buy most European goods, but 50% tariffs to buy European steel, aluminum, or copper, driving up material costs for many U.S industries.' Meanwhile, he notes, 'Europeans won't pay any tariffs on most U.S. imports.' Trending: Be part of the breakthrough that could replace plastic as we know it—University of Michigan economist Justin Wolfers echoed similar concerns, while highlighting the folly of imposing trade barriers. 'These trade deals are all underwhelming for one simple reason,' he says, and that's because trade barriers and tariffs have been tiny for decades. 'When tariffs are 1-2%, there's not much to gain from a trade war,' he says, while warning that a 15% tax on imports can, however, 'do a lot of harm to Americans.' Danish economist Lars Christensen pushed back against the narrative that this was a bad deal for the EU and a win for Trump. He says, 'the deal lower[s] EU tariffs,' which he believes is 'good news for European consumers,' while adding that it is bad for the U.S. economy. Christensen agrees with both Schiff and Wolfers, saying that 'the biggest losers are US consumers,' while comparing the deal to 'shooting yourself in the foot' for the U.S., which he says 'is never a victory.'Why It Matters: The announcement of the trade deal with the EU on Sunday brought an end to months of trade and tariff-related uncertainties with the U.S.'s biggest trading partner. Besides the 15% tariff on imports from the region, the EU will also be buying $750 billion worth of U.S. energy, while investing $600 billion in the United States. Additionally, nations in the bloc will be purchasing weapons from the U.S., although no amount was mentioned. Meanwhile, top officials from the U.S. and China are set to meet in Stockholm to address pressing trade issues, with Trump saying last week that 'We have the confines of a deal with China.' U.S. stock futures are up pre-market, following news of the trade deal over the weekend. The S&P 500 Futures are up 0.37%, trading at 6,449.00, and Nasdaq Futures at 23,538.25, up 0.50%, followed by Dow Futures, which rose over 150 points, up 0.33%, trading at 45,234.00, at the time of writing. Photo Courtesy: Savvapanf Photo on Read Next: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? This article Trump's New EU Trade Deal Labeled 'Bad News' By Economists As Dow Futures Spike Over 150 Points originally appeared on
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30 minutes ago
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China Crypto Firm Bitmain Plans First US Factory in Trump Gambit
Bitmain Technologies Ltd., the world's largest manufacturer of crypto mining hardware, plans to open its first US facility in the coming months, a strategic pivot riding the 'Made in America' boom in digital assets. The company intends to officially open a new headquarters and assembly line in either Texas or Florida by the end of the third quarter. Initial output is expected in early 2026, with full-scale production ramping up later in the year, according to Irene Gao, Bitmain's global business chief.
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37 minutes ago
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Dave Ramsey Caller Says, 'I Have $12 Million. She Has $50,000.' He Wants A Prenup, But She's Pushing Back
Derek from San Jose, California, recently called into 'The Ramsey Show,' hosted by Jade Warshaw and Rachel Cruze, to talk through a difficult financial and emotional decision. He's 36 years old, newly engaged, and planning to blend a family of five kids ranging in age from 10 to 12. But there's one major issue: he has $12 million in assets, while his fiancée has $50,000. He wants a prenuptial agreement, but she's struggling with the idea. 'It's Been Emotional' 'We started the process of looking into a prenup, and it's been an emotional one,' the caller admitted. 'I totally understand why.' Don't Miss: Be part of the breakthrough that could replace plastic as we know it— $100k+ in investable assets? – no cost, no obligation. He said they completed a questionnaire together to begin the process, and things seemed OK at first. But when his lawyer sent over the first draft, everything changed. 'She's really not been feeling good about it,' he said. 'She feels like I wouldn't be fully entering the marriage in the same way that she is because it feels like I'm holding assets off to the side.' His concern is practical. He wants to protect what he built, but not at the expense of the relationship. He said his goal is to protect their marriage, adding that he understands it can feel 'condescending' to her and her family, as if they are the problem the prenup is trying to defend against. Cruze and Warshaw were sympathetic but didn't shy away from hard truths. 'You're hoping and praying this is the one and it's gonna last a lifetime,' Cruze said. 'But we also don't live under a rock. Unfortunately, some really hard things happen and does cause marriages to break up.' Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." The Terms So Far The caller explained that under the current draft of the prenup, everything they bring into the marriage would remain separate. However, once married, all income would be shared. He added that his fiancée plans to stop working to care for the kids. He's also planning to pay off her small remaining debts and buy a home titled in both their names, treating it as community property. Still, one key part of the prenup gives her pause: the $12 million and its growth would remain his. Warshaw asked whether they had considered a phased approach, where some restrictions would fall away after years together. The caller said that wasn't part of the agreement but liked the idea. 'I would be wondering about that if I were entering the marriage,' Warshaw said. 'How can I be a player in how that grows from here on out?' Cruze added that the framing might be the issue. 'It can feel like the $12 million is off in this corner and we're never going to participate in it,' she said. 'But the only time it's not hers is if you guys legally go through a divorce.'A Sensitive Balance The caller emphasized his desire to provide for both her and her children, including if something were to happen to him. 'I absolutely would want her and her kids to be taken care of,' he said. Cruze and Warshaw agreed he was approaching the situation with humility and grace. 'Your tone feels very humble and gracious, which I think she probably very much appreciates,' Cruze said. They encouraged him to seek help from a marriage counselor to work through the emotional side together. Read Next: The average American couple has saved this much money for retirement —?Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Dave Ramsey Caller Says, 'I Have $12 Million. She Has $50,000.' He Wants A Prenup, But She's Pushing Back originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
